[This analysis relates mostly to the United States and the United
Kingdom, which is where I live, but it is also important to people
living in other Western countries.]
1. I'm not going to give you
any BS. Reading this may give you nightmares but I can't help that. The
important thing for you is to know who is causing the Credit Crunch and
why. This may mean the difference between life and death for you and
your family in the financial and economic tsunami engulfing all Western
countries. Think I'm kidding? Then just read this to the end for the
real truth that will make the hairs on the back of your neck stand up on
end.
Who Creates Our Money?
2. The root of the problem is money creation. Money doesn't exist in nature, so someone has to create it. It should be
created by the government through a department that's answerable to
everyone who votes. This department should also be responsible for
maintaining its value, with no excessive inflation or deflation. This
means simply keeping the amount of money in circulation broadly in line
with the value of goods and services in the economy at any given time.
The National Debt would cease to exist as the government would issue
(through the appropriate department responsible to voters) all the money
needed for it to function. This would cut down government interference
and radically reduce tax levels. It is fundamental that all money issued
in this way should be debt-free, i.e. spent into circulation and not
borrowed as a loan that has to be repaid with interest, which is what
happens at present.
"The Most Powerful Weapon Invented By Man"
3.
For over 300 years the economies of all leading nations have been
debt-based. At the heart of it are central banks, controlling a system
whereby credit-creation, a process essential for the functioning of a
modern economy, is made a racket to facilitate the transfer of real
wealth from the wealth-producing farmers, industrialists, workers and
other wealth-producers, to the non-wealth producing banks, themselves
owned by a tiny inter-related clique of families who believe their
destiny is to rule the whole world, with everyone else as their slaves.
This group of families in turn are the leading figures in the "global
elite" referred to later. The chief tool in this system is compound
interest (according to Einstein, "the most powerful weapon invented by
man"), or usury, and the system itself has been called Finance
Capitalism. This dates back to 1694, when the Bank of England was
founded on a plan drawn up by one William Patterson, whose motto was
"Thus You Labour, But Not For Yourselves". That should tell you a great
deal about the people who control our money.
The Rich Get Rich And The Poor Get - Poorer!
4.
Finance Capitalism is unworkable in the long run. Why? Because, under
it, all money comes into existence as a debt owed to a bank. This debt
carries interest which, when paid, reduces the money available to repay
the original loan. (Okay, this is simplifying the issue, as some loans
will be repaid, for example out of profits made by a business, but this
is only at the expense of other debtors who miss out on the "musical
chairs" and end up with insufficient money to repay their debt,
or even the interest on it). There is therefore a constant shortage of
money, which tends to increase poverty among those people less adept at
accumulating it by way of savings. That's why the rich get richer and
the poor get poorer.
5. This shortfall can only be made good by
the banks lending more and more of their fictitious money. The amount of
money lent has to increase in each cycle just to maintain an
equilibrium between the value of goods and services in the economy and
the amount of money available to facilitate a smooth means of exchange
of goods and services in the economy. This money, of course, is made out
of nothing, and its creation costs the banks nothing.
Why We Keep Having Trade Deficits, Unemployment and Recessions
6.
For this reason, as well as sheer greed, banks and finance houses, and
the shadowy figures who own them, are always seeking fresh borrowers,
new markets in which to lend their promise-to-pay money. This leads to
the transfer of wealth out of the country as new factories are financed
and built in countries with a low wage level, and therefore low costs.
These factories when built produce cut-price manufactured goods which,
under the banner of "free trade", are allowed to flood into Western
countries, with their higher wage levels and higher costs of production.
This leads to high profits for the bankers who finance this trade, but
for everyone else it means declining and disappearing manufacturing
industries, industrial strife (as labour blames management and vice
versa for being unable to "compete"), bankruptcies, suicides,
unemployment and poverty.
A "False Economy"
7. The "Credit
Crunch" has come about as the latest in a long line of Finance
Capitalism failures. In 1929 it was vastly inflated plots of swamp in
Florida. This time it's the "toxic debt" of the so-called "sub-prime"
mortgage market in the US that triggered the crash. For over 15 years in
Britain and the US the banks pumped loans into property, particularly
domestic housing. As a result property prices have risen on average by
around 300% to 400% in that time. And with the publication of each
increase in the average house price came a chorus from the foolish
economists, journalists, and other opinion-makers, saying how wonderful
it was for the economy that the value of housing had gone up yet again.
8.
As a result banks enjoyed a boom. Profits and commissions soared.
Bonuses paid to City (of London) and Wall Street bankers and their
minions were legendary - many exceeding a million pounds. As more and
more borrowers were sought to sustain the doomed system, the inevitable
happened. Home loans were made to more and more deadbeats and no-hopers -
people with low-paying jobs and often with no jobs at all (they were
allowed to "self-certify" their earnings status, for goodness sake!) -
and the amounts lent (often more than the actual cost of the house
itself) were in thousands of cases so high that there was no chance they
would ever be repaid.
9. But as the property boom continued this
was perceived not to be a problem. Any defaulting borrower would simply
have his house re-possessed (the human cost of all this was never
considered) and sold for a higher price than the original loan, so the
lender wouldn't lose out. All the "experts" said the boom would never
end, and house prices would always go up and up, for ever.
The Bubble Starts To Burst!
10.
In the summer of 2007 the first signs appeared that the numbers of
defaulting borrowers, and the massive amounts involved, might cause a
serious problem to the banking system. The global elite holding the
purse strings of the major banks, in accordance with their hidden agenda
(see below), halted further lending. The bubble was therefore about to
burst. The banks and loan companies that had spearheaded all this
madness realised that they had better do something if they were not to
be the first in line when the whole rotten house of cards started to
collapse.
11. They came up with an ingenious solution. They
"packaged" up as many of these toxic loans as they could, and added a
few sound loans to make them look like a good investment, and sold them
at a discount on the open market to other banks and finance houses that
were after a quick profit. The purchasers of these packages were
convinced that, though some of the loans in each package would turn out
eventually to be bad, they were more than made up for by good loans at
high rates of interest to good, respectable borrowers who would pay off
their debts at any cost. And anyway, they still had the security of each
house mortgaged, and the price of property would always go up, right?
The First Casualties
12.
As we now know, nearly all these packages fell apart as soon as they
were transferred, and the housing market crashed, with property prices
falling off a cliff. Probably most of the original lenders are now out
of business as the mortgage industry, on which they wholly depended, is
in free fall. The buyers of these packages are, for the most part, the
household names that have collapsed, been taken over by a rival company,
or been nationalised. Northern Rock, Fanny Mae, Freddie Mac, AIG,
Lehman Bros, Bear Stearns, Wachovia, Washington Mutual, Halifax Bank of
Scotland, Bradford and Bingley . . . the list is only just starting.
What It All Means For You
13.
What does all this mean for you and your family? The British and US
Governments are pumping millions of fictitious pounds and dollars into
their economies in a pathetic (and probably illegal) attempt to prevent a
complete collapse. This so-called money is created out of thin air by
their central banks (Bank of England, Federal Reserve System)
and lent to the British and American governments as a huge loan
repayable with real taxpayers' money at interest. It is a usurer's dream
come true and everyone else's nightmare. The first effect for you,
therefore, is that taxes are going up. And they're set to go up a long
way.
14. What else is going to happen? Well, just think about it.
Banks are short of money to lend. They have to carry on lending as
otherwise they'll go out of business and people will realise that they
can create their own money and not be constantly in debt to the bank.
That would be the end of the game for the banking system, so the banks
will seek to avoid this public realisation at all costs. They will
resume lending but they will be very cagey about how much they lend and
who they lend it to. They will tell us the resulting depression and
economic misery was our own fault for "overspending" and that they
themselves are being prudent with our savings (a laughable lie).
Unproductive Banks 1 Productive Industry 0
15.
What is left of our productive industry will wither in the face of an
investment famine, and die. Most of our remaining factories will close
and unemployment will multiply. In Britain, Ford have already gone on to
a 4 day week (October 2008). With the drastic reduction in the money
supply, business failures, already at a high level, will sky-rocket. The
market for modest family cars, for example, will collapse (as will a
number of big name Western car manufacturers) but the market for luxury
yachts will remain as strong as ever. The gap between the super-rich and
the super-poor will grow even wider. All the billions pumped into the
economy (without any corresponding rise in the production of goods and
services) will cause rampant inflation. The ordinary, dispossessed,
unemployed folk will not benefit from all this money, as it will go
straight into the coffers of the bankers who caused the crisis in the
first place.
A Mere 50 Per Cent Reduction In The World's Population
16.
As the demand for social welfare and unemployment benefits soars, the
government will run out of money to pay them. This is because the global
elite who own the banking system will deliberately refuse to lend the
money. The credit-worthiness of the British and the US Governments will
have sunk to zero. There will be food riots, poverty and starvation and
disease on a massive scale. This will be in accordance with the global elite's stated intention
of causing a reduction in the world's population of 50 per cent. Most
of the people to die will be the productive elite of western countries -
managers, blue and white collar workers, farmers, even some
professionals and academics. I told you this was not going to be a fun
read. But it's the truth.
Death Of One New World - Birth Of Another
17.
The result of all this will be a completely unrecognisable world, where
Europe and North America count for little, against the newly-emerged
economic power-houses of China and the Far East. The historic
nation-states of Europe will be finally abolished, absorbed, politically
and economically, into a European super-state, the rights of the
ordinary citizen will be abolished, and all power vested in the
so-called European Commission, itself thoroughly corrupt (it has never
published any accounts in its 50 year existence) and a pawn of the
global elite. The USA may survive as a nominally independent country, or
it may be absorbed into a super-state consisting of the USA, Canada and
Mexico, and perhaps some other Central American countries as well. That
at least would solve the problem of illegal mass migration into Britain
and illegal Hispanic immigration from Mexico to the USA - they would
simply be population movements from one part of a super-state to
another. The original European culture of the Old and New Worlds will be
swamped to death by sheer weight of numbers. If you survive, you'd
better get to like hip-hop and Bollywood.
Triumph Of The "Superclass"
18.
All this won't affect the elite banking families - the families who own
all the stock in the Federal Reserve, for example, or the 6,000 or so
people who form the global elite, the "Superclass" of David Rothkopf's book
of the same name, and who consider themselves as the natural rulers of
the rest of us. They will view the death of Europe and North America, a
death that they will have caused, with a kind of grim satisfaction,
perhaps in the same way that a bunch of parasites (for that is what they
are) view the death of their host. Their only concern will be to make
sure their new host can provide them with the wealth and power to which
they have become accustomed - only on a larger scale than before.
Wanted - A New Host For The Superclass Parasites
19.
That's where China and other Far East countries come in. China has been
undergoing an industrial revolution at a blistering rate in recent
years. The Chinese population of a billion plus is firmly under the
control of the Chinese government, thanks to the Communist Party having
been assisted to power in 1949 by the US State Department, itself
controlled by the global elite. It all depends on these creepy
parasites, the global elite, being able to deceive the Chinese as easily
as they have deceived the Europeans and North Americans.
Hell On Earth
20.
Meanwhile, as the would-be masters of the universe re-locate to the Far
East, Europe and North America will be left as polluted wastelands
populated by a mish-mash of deracialised human trash, where crime,
corruption and anarchy are the norm and most existence depends on a
capability for cruelness and violence. Hell on Earth, in other words.
You'll undoubtedly be better off dead.
Footnote: What can be done
to stop this tragedy playing out? How can we free ourselves from the
debt-slavery imposed on us? Why don't we all, all of us who can see the
evil in this situation, get together through the Internet and start an
organised resistance? It's going to mean hard work and dedication, and
facing the wrath of the enemy, but let's do it!
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